[Osisko Mining Inc.]Price surge fuels fresh hopes that Canada’s richest gold country has more to give – by Gabriel Friedman (Financial Post – July 27, 2019)

https://business.financialpost.com/

‘Every time someone says all the mines have been found I laugh’ – John Burzyunski, CEO Osisko Mining Inc.

This spring, John Burzynski, chief executive of Osisko Mining Inc., caught whiff of an opportunity to acquire land near the Cadillac-Larder break — a name that may not ring a bell with most Canadians, but is renowned gold country.

Running from western Quebec to Larder Lake, Ontario, it stands out among the world’s richest geological gold belts; and even today, more than a century after being discovered, it is dotted with mines that pump out hundreds of thousands of ounces of bullion every year.

Burzynski, and his partners have been to the Cadillac-Larder break before: They discovered the deposit that became the Canadian Malartic mine, currently the country’s largest gold mine, which last year produced 697,200 ounces of gold, worth about $1.3 billion at current prices.

Although they no longer own the mine, they have been responsible for as much exploration in Canada as anyone else over the last few years, taking hundreds of thousands of meters of core samples out of the earth in search of the yellow metal.

Now, as gold prices surge through US$1,400 per ounce for the first time in six years, Buryznski and his team are returning to the Cadillac-Larder break with a roughly $40 million acquisition of Alexandria Minerals, which controls a choice land package near Val d’Or, Quebec that’s already known to contain gold.

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